§ 8-211. Acts of managing general agent deemed acts of insurer; insolvency of managing general agent

Latest version.

(a) Acts of managing general agent deemed acts of insurer. -- The acts of a managing general agent are deemed to be the acts of the insurer for whom the managing general agent is acting.

(b) Insolvency of managing general agent. -- If a managing general agent becomes insolvent, the obligations of the managing general agent with respect to policyholders of an insurer shall be assumed by that insurer.

HISTORY: An. Code 1957, art. 48A, § 671, 672; 1995, ch. 36.

                    
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